Bona Film Group Limited - Ameri (NASDAQ:BONA)

BEIJING, April 8, 2016 /PRNewswire/ -- Bona Film Group Limited ("Bona" or the "Company") (NASDAQ: BONA), a leading film distributor and vertically integrated film company in China, today announced the completion of its merger (the "merger") with Mountain Tiger Limited ("Merger Sub"), a wholly-owned subsidiary of Mountain Tiger International Limited ("Parent"), pursuant to the agreement and plan of merger (the "merger agreement") dated December 15, 2015 by and among Parent, Merger Sub and the Company. As a result of the merger, the Company ceased to be a public traded company and became a wholly-owned subsidiary of Parent.

Under the terms of the merger agreement, each of the Company's ordinary shares, par value US$0.0005 per share (each a "Share") issued and outstanding immediately prior to the effective time of the merger, has been cancelled in exchange for the right to receive $27.40 in cash per Share without interest, and, for the avoidance of doubt, each of the Company's American depositary shares (each an "ADS"), each two representing one Share, issued and outstanding immediately prior to the effective time of the merger, has been cancelled in exchange for the right to receive US$13.70 in cash per ADS without interest (less $0.05 per ADS cancellation fees), in each case, net of any applicable withholding taxes, other than (a) Shares (including Shares represented by ADSs) owned by Parent, Merger Sub or the Company (as treasury, if any), or by any direct or indirect wholly-owned subsidiary of Parent, Merger Sub or the Company, (b) Shares (including Shares represented by ADSs) reserved (but not yet allocated) by the Company for settlement upon exercise or vesting of any options (the "Options") or restricted share awards (the "Restricted Shares") of the Company issued under its share incentive plans, (c) Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their dissenter rights under the Cayman Islands Companies Law (the "Dissenting Shares"), and (d) Shares (including Shares issuable under the Options, the Restricted Shares and Shares represented by ADSs) beneficially owned by the certain rollover shareholders (Shares described under (a) through (d) above are collectively referred to herein as the "Excluded Shares").

Shareholders of record as of the effective time of the merger who are entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the merger consideration (net of any applicable withholding taxes). Shareholders should wait to receive the letter of transmittal before surrendering their share certificates. As soon as practicable after this announcement, Deutsche Bank Trust Company Americas (the "ADS Depositary") will call for the surrender of all ADSs (other than any ADS that represents Excluded Shares) for delivery of the merger consideration. Upon the surrender of ADSs, the ADS Depositary will pay to the surrendering holders US$13.70 per ADS surrendered in cash without interest (less $0.05 per ADS cancellation fees) and net of any applicable withholding taxes.

The Company also announced today that it has requested that trading of its ADSs on the NASDAQ Global Select Market ("NASDAQ") be suspended. The Company requested NASDAQ to file a notification on Form 25 with the Securities and Exchange Commission (the "SEC") to delist the Company's ADSs and deregister the Company's registered securities. The deregistration is expected to become effective within 90 days of the filing of Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC in ten days. The Company's obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will terminate once the deregistration becomes effective.

In connection with the merger, Barclays Bank PLC is serving as the financial advisor to the independent committee of the board of directors of the Company (the "Independent Committee"). Shearman & Sterling LLP is serving as the U.S. legal counsel to the Independent Committee and Maples and Calder is serving as the Cayman Islands legal counsel to the Independent Committee. Simpson Thacher & Bartlett LLP is the Company's U.S. legal counsel. Davis Polk & Wardwell is serving as legal counsel to Barclays Bank PLC.

CITIC Securities Co., Ltd. is serving as the financial advisor to (i) Mr. Dong Yu, the Chairman and Chief Executive Officer of the Company, and his controlled affiliates, (ii) Uranus Connection Limited, (iii) Alibaba Pictures Group Limited and its affiliated entity, (iv) Willow Investment Limited, an affiliate of Tencent, (v) Orrick Investments Limited, an affiliate of Fosun International Limited, (vi) Sequoia Capital China I, L.P. and its affiliated funds, (vii) SAIF Partners IV L.P. and (viii) All Gain Ventures Limited (collectively, the "Buyer Group"). Kirkland & Ellis is serving as the U.S. legal counsel to the Buyer Group. Conyers Dill & Pearman is serving as the Cayman Islands legal counsel to the Buyer Group.

BEIJING, March 4, 2016 /PRNewswire/ -- Bona Film Group Limited ("Bona" or the "Company") (BONA), a leading film distributor and vertically integrated film company in China, announced today that, at an extraordinary general meeting held today, the Company's shareholders voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger (the "merger agreement") dated December 15, 2015 by and among Mountain Tiger International Limited ("Parent"), Mountain Tiger Limited ("Merger Sub") and the Company, pursuant to which Merger Sub will be merged with and into the Company with the Company continuing as the surviving company as a wholly-owned subsidiary of Parent after the merger (the "merger"), and to authorize and approve any and all transactions contemplated by the merger agreement, including the merger.

Immediately after the completion of the merger, Parent will be beneficially owned by (i) Mr. Dong Yu, the Chairman and Chief Executive Officer of the Company, and his controlled entities, (ii) Uranus Connection Limited, (iii) Alibaba Pictures Group Limited and its affiliated entity, (iv) Willow Investment Limited, an affiliate of Tencent, (v) Orrick Investments Limited, an affiliate of Fosun International Limited, (vi) Sequoia Capital China I, L.P. and its affiliated funds, (vii) SAIF Partners IV L.P. and (viii) All Gain Ventures Limited.  

Approximately 94.7% of the Company's total outstanding ordinary shares voted in person or by proxy at today's extraordinary general meeting. Of these ordinary shares voted in person or by proxy at the extraordinary general meeting, approximately 97.3% were voted in favor of the proposal to authorize and approve the merger agreement and any and all transactions contemplated by the merger agreement, including the merger. A two-thirds majority of the voting power represented by the ordinary shares of the Company present and voting in person or by proxy at the extraordinary general meeting was required for approving the merger.

The parties currently expect to complete the merger as soon as practicable, subject to the satisfaction or waiver of the conditions set forth in the merger agreement. Upon completion of the merger, the Company will become a privately held company and its American depositary shares will no longer be listed on the NASDAQ Global Select Market.

BEIJING, February 1, 2016 /PRNewswire/ -- Bona Film Group Limited ("Bona" or the "Company") (NASDAQ: BONA), a leading film distributor and vertically integrated film company in China, today announced that it has called an extraordinary general meeting of shareholders (the "EGM"), to be held at 10:00 a.m. Beijing Time on March 4, 2016, at the Company's office at 18/F, Tower 1, U-town Office Building, No. 1 San Feng Bei Li, Chaoyang District, Beijing 100020, the People's Republic of China, to consider and vote on, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement") dated December 15, 2015 by and among Mountain Tiger International Limited ("Parent"), Mountain Tiger Limited ("Merger Sub") and the Company, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, substantially in the form attached as Exhibit A to the Merger Agreement (the "Plan of Merger") and the transactions contemplated thereby (including the Merger, as defined below).

Pursuant to the Merger Agreement and the Plan of Merger, Merger Sub will merge with and into the Company (the "Merger"), with the Company continuing as the surviving company and a wholly-owned subsidiary of Parent in accordance with Cayman Islands Companies Law. If completed, the Merger will result in the Company becoming a privately held company. Bona's American depositary shares ("ADSs"), each two ADSs representing one ordinary share of the Company, will no longer be listed on NASDAQ Global Select Market and the American depositary shares program for Bona's ADSs will terminate. In addition, Bona's ADSs and Bona's ordinary shares represented by the ADSs will cease to be registered under Section 12 of the Securities Exchange Act of 1934.

The Company's board of directors, acting upon the unanimous recommendation of the independent committee of the board of directors of the Company comprised of independent directors unaffiliated with Parent or Merger Sub or any member of the buyer group or the management of the Company, authorized and approved the Merger Agreement, the Plan of Merger and the transactions contemplated thereby (including the Merger) and recommended that the Company's shareholders and ADS holders vote FOR, among other things, the proposal to authorize and approve the Merger Agreement, the Plan of Merger and the transactions contemplated thereby (including the Merger).

Shareholders of record as of the close of business in the Cayman Islands on February 11, 2016 will be entitled to attend and vote at the EGM. ADS holders as of the close of business in New York City on January 28, 2016 will be entitled to instruct Deutsche Bank Trust Company Americas, the ADS depositary, to vote the ordinary shares represented by the ADSs at the EGM.

BEIJING, Jan. 25, 2016 /PRNewswire/ -- Bona Film Group Limited ("Bona" or the "Company") (BONA), a leading film distributor and vertically integrated film company in China, today announced that on January 22, 2016, the Company entered into a US$100 million term loan facility agreement with an unrelated third party, Plum Blossom Investment Holding Limited, an affiliate of China Huarong International Holdings Limited. The facility is available for utilization within 15 business days from and including the date of the agreement. The loan may be used for activities including general working capital or other general corporate purposes. The loan is repayable on the second anniversary of the utilization date and is guaranteed by certain of Bona's subsidiaries. Interest is payable on the loan.

BEIJING, December 15, 2015 /PRNewswire/ -- Bona Film Group Limited ("Bona" or the "Company") (NASDAQ: BONA), a leading film distributor and vertically integrated film company in China, today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with Mountain Tiger International Limited ("Parent") and Mountain Tiger Limited ("Merger Sub"), a wholly-owned subsidiary of Parent.

Pursuant to the Merger Agreement, Parent will acquire the Company for a cash consideration equal to US$27.40 per ordinary share of the Company (each, a "Share") or US$13.70 per American depositary share of the Company, on the basis that two American depositary shares shall represent one Share (each, an "ADS"), in a transaction implying Company's enterprise value at approximately US$1,001.3 million, based on the total Shares issued and outstanding (including Shares represented by ADSs) on a fully diluted basis. This amount represents a premium of 6.5% over the Company's closing price of US$12.86 per ADS on June 11, 2015, the last trading day prior to June 12, 2015, the date that the Company announced it had received a "going-private" proposal, and a premium of 28.7% to the volume-weighted average closing price of the Company's ADSs during the 60 trading days prior to June 12, 2015.

Immediately following the consummation of the merger, Parent will be beneficially owned by:

(1) New investors, which include affiliates of, or funds managed by, (i) Uranus Connection Limited, (ii) Alibaba Pictures Group Limited, an affiliate of Alibaba, (iii) Willow Investment Limited, an affiliate of Tencent and (iv) All Gain Ventures Limited (together, the "Investors"),

(2) Mr. Dong Yu, founder, chief executive officer and chairman of the board of directors of the Company (together with Skillgreat Limited and Vantage Global Holdings Ltd., both controlled by him, "Mr. Yu"),

(3) Fosun International Limited and its affiliated entity ("Fosun"), Sequoia Capital China I, L.P. and its affiliated funds ("Sequoia") and SAIF Partners IV L.P. ("SAIF", and together with Mr. Yu, Fosun, Sequoia, SAIF and the Investors, the "Buyer Group"), each of which will roll over their Shares in the Company in connection with the merger.

As of the date of the Merger Agreement, Mr. Yu, Fosun, Sequoia and SAIF (together, the "Rollover Securityholders") beneficially own, in the aggregate, approximately 62.8% of the outstanding Shares of the Company.

Subject to the terms and conditions of the Merger Agreement, at the effective time of the merger, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and a wholly-owned subsidiary of Parent, and each of the Shares (including Shares represented by ADSs) issued and outstanding immediately prior to the effective time of the merger will be cancelled and cease to exist in exchange for the right to receive US$27.40 per Share or US$13.70 per ADS, in each case, in cash, without interest and net of any applicable withholding taxes, except for (i) Shares held by Rollover Securityholders, (ii) Shares (including Shares represented by ADSs) owned by Parent, Merger Sub or the Company (as treasury shares, if any) and any Shares (including Shares represented by ADSs) reserved (but not yet allocated) by the Company for settlement upon exercise or vesting of any Company share awards or by any direct or indirect wholly owned subsidiary of Parent, Merger Sub or the Company, and (iii) Shares owned by holders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger pursuant to Section 238 of the Companies Law of the Cayman Islands, which Shares will be cancelled at the effective time of the merger for the right to receive the appraised value of such Shares determined in accordance with the provisions of Section 238 of the Companies Law of the Cayman Islands.

The Company's board of directors, acting upon the unanimous recommendation of the independent committee formed by the board of directors (the "Independent Committee"), approved the Merger Agreement, and resolved to recommend that the Company's shareholders vote to authorize and approve the Merger Agreement and the merger. The Independent Committee, which is composed solely of independent directors of the Company who are unaffiliated with Parent, Merger Sub or any member of the Buyer Group or management of the Company, exclusively negotiated the terms of the Merger Agreement with the Buyer Group with the assistance of its independent financial and legal advisors.

The merger which is currently expected to close during the second quarter of 2016, is subject to various closing conditions, including a condition that the Merger Agreement be authorized and approved by an affirmative vote of shareholders representing two-thirds or more of the Shares present and voting in person or by proxy as a single class at an extraordinary general meeting of the Company's shareholders.

Pursuant to a support agreement entered among Rollover Securityholders and Parent, the Rollover Securityholders have agreed to vote all the Shares and ADSs beneficially owned by them in favor of the authorization and approval of the Merger Agreement and the merger. If completed, the merger will result in the Company becoming a privately-held company and its ADSs will no longer be listed on The NASDAQ Select Global Market.

The Buyer Group intends to fund the merger through a combination of rollover financing from the Rollover Securityholders of 23,154,925.5 Shares (on a fully diluted basis), having an aggregate value of approximately US$634,444,959 and equity financing provided by the Investors and Mr. Yu in an aggregate amount equal to approximately US$365,976,731 pursuant to equity commitment letters issued by the Investors and Mr. Yu.

The Company will prepare and file with the U.S. Securities and Exchange Commission (the "SEC") a Schedule 13E-3 transaction statement, which will include a proxy statement of the Company. The Schedule 13E-3 will include a description of the Merger Agreement and contain other important information about the merger, the Company and the other participants in the merger.

Barclays Bank PLC is serving as the financial advisor to the Independent Committee, Shearman & Sterling LLP is serving as U.S. legal counsel to the Independent Committee, and Maples and Calder is serving as Cayman Islands legal counsel to the Independent Committee. Simpson Thacher & Bartlett LLP is serving as U.S. legal counsel to Bona. Davis Polk & Wardwell is serving as legal counsel to Barclays Bank PLC.

CITIC Securities Co., Ltd. is serving as the financial advisor to the Buyer Group, Kirkland & Ellis is serving as U.S. legal counsel to the Buyer Group, and Conyers Dill & Pearman is serving as Cayman Islands legal counsel to the Buyer Group.

• Third quarter 2015 net revenues were US$78.9 million, a decrease of 21.1% from US$100.0 million in the third quarter of 2014.
• Third quarter 2015 net income attributable to Bona Film Group Limited was US$0.8 million, or US$0.01 per basic and diluted ADS[1], compared with net income attributable to Bona Film Group Limited of US$5.9 million, or US$0.10 and US$0.09, per basic and diluted ADS, in the third quarter of 2014, respectively.

"We are pleased with our third quarter results with non-GAAP net income meeting our prior guidance," said Bona's founder, Chairman and CEO Mr. Yu Dong. "Our movie theater business continued its growth momentum in the third quarter, achieving a year-over-year increase of 55%, which was mainly driven by the Company's strategic expansion efforts with additional theaters and screens. The rapid growth of China's film industry also benefitted our overall business in the third quarter."

"In November, we were delighted to announce our investment in TSG, one of the pre-eminent film financing companies in the United States to build our film presence in the international market as well as to participate in more Hollywood mainstream film projects, while also sharing in their worldwide box office receipts. Our international expansion initiative is pivotal to our long-term growth strategy, as it expands our market reach, with the goal of becoming one of the leading film companies in China and around the world," Mr. Yu added.

Second Quarter 2015 Financial Results

BEIJING, July 13, 2015 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (NASDAQ:BONA), a leading film distributor and vertically integrated film company in China, today announced that its board of directors (the "Board") has formed an independent committee (the "Independent Committee") consisting of three independent directors, Dr. Daqing Dave Qi, Mr. Jie Lian and Mr. Zhong Jiang, to consider the previously announced non-binding "going private" proposal that the Board received on June 12, 2015. The Independent Committee has retained Barclays Bank PLC as its financial advisor, Shearman & Sterling LLP as its United States legal counsel and Maples & Calder as its Cayman Islands legal counsel to assist it in this process.

The Independent Committee is continuing its evaluation of the proposed "going private" transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

BEIJING, June 12, 2015 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (BONA), a leading film distributor and vertically integrated film company in China, today announced that its Board of Directors (the "Board") has received a non-binding proposal letter, dated June 12, 2015, from Mr. Yu Dong ("Mr. Yu"), founder, Chairman and CEO of the Company, Sequoia Capital China I LP and Fosun International Limited (together with Mr. Yu the "Buyer Group"), proposing a "going-private" transaction (the "Transaction") to acquire all of the outstanding ordinary shares of the Company not already owned by the Buyer Group for US$13.70 in cash per American depositary share ("ADSs"), or approximately US$27.40 per ordinary share, which represents approximately a 23.6% premium above the average closing price of the Company's ADSs over the last 30 trading days up to and including June 11, 2015.

The Board intends to form a special committee consisting of independent directors to consider this proposal.

The Board cautions the Company's shareholders and others considering trading in its securities that the Board just received the non-binding proposal letter from the Buyer Group and no decisions have been made with respect to the Company's response to the Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

First Quarter 2015 Financial Results

• First quarter 2015 net revenues were US$117.6 million, an increase of 107.7% as compared with US$56.6 million in the first quarter of 2014.
• First quarter 2015 net income attributable to Bona Film Group Limited was US$1.9 million, or US$0.03 per basic and diluted ADS¹, as compared with net income attributable to Bona Film Group Limited of US$1.4 million, or US$0.02 per basic and diluted ADS, in the first quarter of 2014.

"I am delighted to report strong results in the first quarter, starting 2015 on a very high note," said Bona's founder, Chairman and CEO Mr. Yu Dong, "During the first quarter, we achieved net revenues of US$117.6 million, an increase of 107.7% year over year, and the largest quarterly revenue in our history. Our performance in the quarter came from the success of our film production and distribution segments. Our Chinese New Year blockbuster, The Man from Macau 2, achieved over RMB973.5 million in box office receipts in its theatrical run, making it the highest-grossing film distributed by Bona, and one of the top 10 box office performers in China's film history, including foreign films. As the China film market continues to grow, we believe that our track record of developing blockbusters, along with our unique, vertically integrated business model, further strengthens our competitiveness in capitalizing on this favorable market momentum."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the second quarter of 2015 to be in the range of US$0.5 million to US$1.0 million.

"Each of our business segments is contributing to Bona's overall success. With our second film fund, we will have the resources to invest where there is potential for growth and profitability, in order to capture the most promising opportunities. Our international strategy will continue to play an important role in our continued growth, as we bring high-quality foreign films to the domestic market, while delivering first-class Chinese films to the world, which is our mission as a leader in the Chinese film industry. We expect the Chinese film industry to generate strong box office returns in 2015, and believe that Bona's solid slate of films and vertically integrated business model will make us well positioned to capitalize on the growth in the market," concluded Mr. Yu.

BEIJING, March 3, 2015 (GLOBE NEWSWIRE) -- Bona Film Group Limited (Nasdaq:BONA) ("Bona" or the "Company"), a leading film distributor and vertically integrated film company in China, today announced that it has established its second film fund of RMB 1.7 billion (the "Fund"). The Fund's launch is expected to commence on March 6, 2015, and will finance the development and production of Bona's film and TV projects over the next two to three years, including Chinese language films and foreign language films.

"Less than two years after the launch of our first dedicated film investment fund, the first of its kind in our industry, we are delighted to form our second Fund," said Bona's founder, Chairman and CEO, Mr. Yu Dong. "We raised significantly more proceeds for our second Fund than our first fund, due largely to the success of our first fund, as well as our investors' desire to participate directly in the China film and entertainment industry. The response from investors was very enthusiastic, and we have secured full capital commitments to the Fund. The participation we have seen underscores the confidence investors have in our capabilities to develop and produce high quality film and TV projects, along with the strong fundamentals and growth of the China movie market."

"With Bona's industry leadership as one of China's leading non state-owned film companies, and an established track record of producing blockbuster films, we are excited to offer investors the opportunity to participate in our film pipeline. At the same time, the Fund allows us to increase our production capabilities and capacities, while reducing the risks and challenges associated with financing individual films," added Mr. Yu. "This will enable us to continue to focus our internal capital toward enhancing our distribution and theater segments, two key growth drivers for Bona's future development."

Fourth Quarter 2014 Financial Results

• Fourth quarter 2014 net revenues were US$52.6 million, an increase of 23.0% compared with US$42.8 million in the fourth quarter of 2013.
• Non-GAAP Net Income Attributable to Bona Film Group Limited per Diluted ADS was (US$) 0.04 vs. last years same quarter of 0.03.

"2014 was a historic year for Bona Film Group," said Bona founder, Chairman and CEO Mr. Yu Dong. "Our success in 2014 was largely driven by the box office performance of our 12 domestic theatrical releases, which generated approximately 15% market share in domestic film box office receipts, making us the second largest domestic non-state-owned film distributor. We delivered solid financial results and completed several strategic initiatives throughout our key strategy that we expect to further strengthen our position as a leader among non-state-owned film companies in China."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the first quarter of 2015 to be in the range of US$4.5 million to US$5.0 million.

"Going forward, we believe there is even greater upside potential for our business. We believe that the strength of our vertically integrated business model uniquely positions us to best capitalize on these favorable market conditions in 2015 and beyond," concluded Mr. Yu.

• Net revenues were US$100.0 million, an increase of 186% compared with US$35.0 million in the third quarter of 2013.
• Non-GAAP Net Income Attributable to Bona Film Group Limited per Diluted ADS (US$) was 0.15 vs. last years same quarter of 0.06.

"I am very pleased with the results that we delivered in the third quarter," said Bona founder, Chairman and CEO Mr. Yu Dong. "The third quarter was a tremendous success for the Company. We delivered a solid financial performance that was driven largely by the historic success of our films during the summer box office, as our film slate has underscored our ability to reach a wider movie-going audience than ever before. The great progress we have made so far this year reflects the strength of our vertically integrated business model, which enables us to scale our business across the entire entertainment industry value chain, taking full advantage of the booming Chinese film market."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the fourth quarter of 2014 to be in the range of US$2.0 million to US$2.5 million.

"For the remainder of 2014, we will continue to grow our complementary business segments through the ongoing expansion and enhancement of our theater network, while we build upon our leading position in China's film distribution market. Going forward, Bona will focus on two key areas: local films and Hollywood films. We believe that the world is paying more attention to the fast growth of China's film market. Bona is also planning to produce Hollywood films and attract top production talent. In the next few years, Bona's films will become more diversified and international, which we believe will propel Bona into one of the leading entertainment companies in the world," added Mr. Yu.

SHANGHAI, Nov. 12, 2014 /PRNewswire/ -- IMAX Corporation (NYSE: IMAX; TSX: IMX) and Beijing Bona International Cineplex Investment and Management Co. Ltd., a wholly-owned subsidiary of Bona Film Group, (Nasdaq: BONA), a leading film distributor and vertically integrated film company in China, today announced an agreement for three new IMAX� theatres in China. The deal brings the exhibitor's total IMAX commitment to four theatres.

In 2012, Bona opened its first IMAX theatre in Tianjin. Under today's agreement, the Company will open an IMAX theatre in a new complex in Wuhan and another in the multiplex located at Bona Film Group's headquarters in Beijing. A third IMAX theatre will be added to a new multiplex in Taiyuan.

Bona Film Group first partnered with IMAX on the release of Bona's martial arts epic Flying Swords of Dragon Gate in 2011. The film went on to become the second highest-grossing IMAX Chinese-language title to date. The film White Haired Witch, which opened strongly in China in August, marked the second Bona Film Group title to be released in IMAX.

"The booming film industry in China presents strong growth prospects for our film and exhibition business and IMAX is a tremendous partner that has supported our success on both fronts," said Bona Founder, Chairman and CEO Yu Dong. "As we expand our theatre footprint, IMAX is a key differentiator that will help us capitalize on the growth opportunities that exist in this highly competitive market."

"We are focused on our global expansion as the international box office continues to grow - particularly in China where we have been successful playing both the Hollywood and Chinese films," said IMAX CEO Richard L. Gelfond. "From film production, distribution, to exhibition, Bona - like IMAX - is a diversified company that is an important part of China's film ecosystem. We are delighted that Bona continues to invest in IMAX and look forward to future film and theatre collaborations with this strategic partner."

BEIJING, Oct. 16, 2014 (GLOBE NEWSWIRE) -- Feature films produced and distributed by Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA) were clear audience favorites in China during the summer of 2014, taking 3 of the top 14 spots in box office gross revenues in the May through August period, according to figures from Box Office Mojo, an IMDB Company.

The Continent was the Company's summer box office leader at RMB613.4 million (US$100.1 million), which placed it fourth in China's overall summer box office gross, following its release on July 24th. Also ranking high on the audience list were The White Haired Witch with RMB379.3 million (US$61.9 million) in box office gross, and Overheard 3 at RMB303.3 million (US$49.5 million).

"We are delighted with the overwhelming box office success of these three films," said Bona founder, Chairman and CEO, Mr. Yu Dong. "The summer of 2014 was a historic success for Bona, as our film slate has underscored our ability to reach a wider movie-going audience than ever before. In addition, we continue to leverage our 'new director, new story' strategy in our pipeline of films, and implement innovative online and new media marketing strategies. This was demonstrated in the success of The Continent, with total clicks for the film's trailer exceeding 20 million on video websites, and with total trailer viewership of almost 20 million as of the end of August, breaking several records. Similarly, leading up to the release of Overheard 3 we created online and off-line attention by producing several promotional videos and utilizing new media broadcasting platforms as part of our strategic cooperation with Youku Tudou, the largest website platform for video in China."

The Continent, the directorial debut of Han Han, the best-selling writer, professional rally racer, singer-lyricist, and one of China's most popular bloggers, is a road trip comedy movie that tells the story of three young men yearning for their ideals in life. This film resonated with contemporary China audiences, whose demographics are skewing towards the post-1980s and 1990s generations that are hungry for refreshing local stories and characters.

The White-Haired Witch, a 3D epic drama directed by Jacob Cheung and starring Bingbing Fan and Xiaoming Huang, is the first Wuxia genre film developed with industry leading audio and video formats that have been distributed theatrically in China. This film highlights Bona's capability to achieve the highest level of quality in producing custom action films in China.

Overheard 3, co-directed by Alan Mak and Felix Chong and starring Sean Lau, Louis Koo, Daniel Wu and Zhou Xun, has achieved the highest-grossing box office performance of the Overheard franchise. This installment of the series explores the inside story of Hong Kong's real estate business, an attention-grabbing topic that's seldom explored in Chinese cinema.

In addition, Bona is set to release three films in the fourth quarter of 2014, including Blue Sky Bone, The Dead End, and the highly anticipated The Taking of Tiger Mountain. Shot by Tsui Hark in cutting-edge 3D technology, The Taking of Tiger Mountain tells one of the most well known Chinese stories of the revolutionary period from a modern perspective.

BEIJING, July 14, 2014 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona") (Nasdaq:BONA) today announced an agreement between an affiliate of 21st Century Fox and Bona's Founder, Chairman and CEO, Mr. Yu Dong, for Mr. Yu to acquire 21st Century Fox's entire 19.3% interest (6,050,067 ordinary shares, equal to 19.9% interest before dilution from ordinary shares issued in respect of options) in Bona for $71.4 million or $11.80 per share ($5.90 per American Depository Share). An affiliate of 21st Century Fox acquired the ownership interest in Bona in May 2012. The sale, which is subject to customary closing conditions, has no effect on the five film co-productions between the 21st Century Fox and Bona, including Bride Wars, which began principal photography in June of this year, or on the robust pipeline.

"We appreciate the support of such a tremendous partner as 21st Century Fox, and for their contribution to the growth and development of Bona Film Group," said Mr. Yu. "I have high confidence in the booming film industry in China, and the strong growth prospects for Bona. We're delighted to have completed this transaction on such positive terms, and look ahead to our future joint efforts, as Bona remains focused on future plans for Hollywood and international expansion. In particular, Bride Wars is the first of our five co-production projects with 21st Century Fox, and we are confident it will be a tremendous success, as it will appeal to the fast growing younger Chinese audience, one of the most important audience groups that we want to capture in today's market."

"We remain committed to our current co-productions with Bona as well as to exploring future collaboration with them and others in the exciting and rapidly growing Chinese film market," said Jim Gianopulos, Chairman and CEO, Twentieth Century Fox Film.

Also announced:

BEIJING, July 14, 2014 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, and Fosun Group (Fosun International Limited, 00656.HK, and its subsidiaries) ("Fosun"), announced that Fosun has agreed to purchase an additional 13.3% interest in the Company. Fosun, which owned 7.5% of Bona prior to this transaction, is a leading investment group based in China with worldwide operations. Its principal business operations include insurance, industrial operations, property development, media and entertainment, investment and asset management.

Under the investment agreement, Fosun will acquire 4,165,926 Bona ordinary shares, representing approximately a 13.3% equity stake in the Company, from Bona's Founder, Chairman and CEO, Mr. Yu Dong, at a price of $11.80 per share, or $5.90 per American Depositary Share.

Following the close of the transaction, Mr. Yu and Fosun will own approximately 32.3% (including 2.7% from stock options) and 20.8%, respectively, of the Company's ordinary shares outstanding. The transaction is expected to close in the next two weeks and is subject to customary closing conditions.

"We are delighted to announce this additional strategic investment by Fosun, one of the largest, most diverse enterprises in China," said Mr. Yu Dong. "With its extensive resources, strong investment and management track record both in China and internationally, Fosun has proven to be a valued strategic partner to Bona since its initial investment in 2013. This additional investment by Fosun will further contribute to Bona's efforts in achieving its ambitious strategic goals across all segments, and speaks to Fosun's commitment to the entertainment industry as a whole as well as its recognition of Bona as the industry leader in China with strong potential going forward. The Chinese film is proving to become increasingly important internationally, and we hope to seize this valuable opportunity to become one of the top players in the global market."

"China has already become the world's second largest motion picture market, and is expected to be the largest market in the next few years," said Mr. Guo Guangchang, Chairman of Fosun. "This additional investment is another strategic foothold for Fosun in the global movie and entertainment industry. Bona has a unique vertically-integrated business model and an experienced and professional management team in the field. Our partnership will combine the resources of Fosun and Bona to capture attractive opportunities in the fast growing domestic movie industry, as well as the opportunities that will emerge through the cooperation in the movie business between the United States and China."

Second Quarter 2014 Financial Results

• Second quarter 2014 net revenues were US$44.9 million, an increase of 58.7% compared with US$28.3 million in the second quarter of 2013.
• Net income attributable to Bona Film Group Limited per ADS Basic and Diluted was a 0.01 vs. last years same quarter of 0.03.

"The second quarter of 2014 saw continued momentum in our financial results, as we achieved strong top-line growth, with non-GAAP net income exceeding the top-end of our guidance range by 10%," said Bona founder, Chairman and CEO, Mr. Yu Dong. "We continue to execute our financial and operational strategy in the second quarter, setting the stage for what I believe will be an exciting and successful year for Bona. In addition, we're delighted to have strengthened our strategic partnership with Fosun Group in July, as their additional investment demonstrates both Fosun's commitment to the Chinese film market, as well as Bona's position as a leader in the Chinese entertainment industry."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the third quarter of 2014 to be in the range of US$7.5 million to US$8.0 million.

"Our performance in the second quarter and first half of 2014 confirms the successful implementation of our financial and operational strategy, further strengthening our confidence for continued growth during the remainder of 2014. Each of our business segments is enjoying success and contributing to Bona's overall progress. We have the resources to invest where there's potential for growth and profitability, in order to capture the most promising opportunities. In addition, our strengthened partnership with Fosun Group will further contribute to Bona's efforts in achieving its ambitious strategic goals across all segments," concluded Mr. Yu.

First Quarter 2014 Financial Results

• First quarter 2014 net revenues were US$56.6 million, an increase of 30.7% compared with US$43.3 million in the first quarter of 2013.
• First quarter 2014 net income attributable to Bona Film Group Limited was US$1.4 million, or US$0.02 per basic and diluted ADS1, compared with net income attributable to Bona Film Group Limited of US$0.5 million, or US$0.01 per basic and diluted ADS, in the first quarter of 2013.

"We had a good start to 2014 with our strong financial results achieved in the first quarter, which continued to validate the strengths of our vertically integrated business model. During the first quarter, we achieved robust top and bottom-line growth with non-GAAP net income above the top-end of our guidance range by 33%. Our first quarter revenue was again fueled by steady growth in our distribution and movie theater business segments, with our Chinese New Year blockbuster The Man from Macau achieving over RMB520 million box office, making us well positioned to achieve another box office record in 2014," said Bona's founder, Chairman and CEO Mr. Yu Dong. "The growth of the Chinese film market in 2014 to-date continues to be exceptionally strong, with box office and movie attendance both growing at around 30% year-over-year in the first quarter. With the film investment fund in place and a good number of exciting projects in our pipeline, we aim to advance key strategic initiatives in all of our business segments in 2014."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the second quarter of 2014 to be in the range of US$2.5 million to US$3.0 million.

"I believe that Bona is poised to leverage its leading industry position, rich production resources, integrated business model and support from resourceful shareholders to thrive as a new-age film company. With the film fund in place, we've made a series of high-profile investments with great box office potential, including The Taking of Tiger Mountain, The White Haired Witch and I Am Somebody. Moreover, our recent announcements on such highly anticipated projects as Duckweed, Bride Wars and My Geeky Nerdy Buddies exemplify the Company's readiness to quickly adjust to the changing market environment and our dedication to capture today's young audience. Given the strong film slate, I am confident that we will continue the strong box office growth rate of 2013 and hit a new record in 2014," concluded Mr. Yu.

Fourth Quarter 2013 Financial Results

• Net revenues were US$42.8 million, compared with US$53.2 million in the fourth quarter of 2012.
• Net income attributable to Bona Film Group Limited was US$0.4 million, or US$0.01 per basic and diluted ADS¹, compared with a net loss attributable to Bona Film Group Limited of US$(5.4) million, or a loss of US$(0.09) per basic and diluted ADS, in the fourth quarter of 2012.

"We delivered solid results in 2013, driven by the theatrical release of 14 films domestically that generated an approximately 10% market share in domestic box office receipts, making us one of the top three domestic non-state-owned film distributors," said Bona founder, Chairman and CEO Mr. Yu Dong. "We are also pleased with the progress we made in our theater segment in 2013, as our greenfield theaters matured and delivered solid results. We opened 2 new movie theaters in 2013, signed contracts to construct 7 new theater projects and reached a few preliminary agreements with first-tier property developers on exciting future projects."

"2013 also marked a time when we significantly strengthened our corporate structure through the successful launch of the RMB 1 billion Bona Film Investment Fund and the strategic investment in our Company by Fosun Group. These initiatives will help fortify our position in the market and create opportunities for us to leverage in the future."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the first quarter of 2014 to be in the range of US$1.0 million to US$1.5 million.

"We have a robust slate of films scheduled for release in 2014, and our business segments are on track to demonstrate progressive growth throughout the year. Our first two film releases, The Mortal Instruments: City of Bones and The Man From Macau, have kicked-off the year in top form, generating strong box office results, particularly during the Chinese New Year season. We expect the Chinese film industry to generate strong box office returns again in 2014, and believe that Bona's solid slate of films and vertically integrated business model make us well positioned to capitalize on this growth in the market," concluded Mr. Yu.

BEIJING, Dec. 2, 2013 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company")(Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that Bona Film Group Co., Ltd. (PRC) has entered into a master credit line agreement with Shanghai Pudong Development Bank Co., Ltd., a premier nationwide commercial bank in China. Pursuant to this agreement, Shanghai Pudong Development Bank has agreed to provide a revolving credit line in the amount of RMB80 million (approximately US$13.0 million) for a term of three years. The credit line will be used to fund the continued expansion of the Company's movie theater business.

"We are pleased to add Shanghai Pudong Development Bank to the group of first-rate financial institutions who have partnered with Bona in our pursuit to become China's largest non-state owned film producer, distributor and exhibitor," said Mr. Yu Dong, Founder, Chairman and CEO of Bona. "Our theater business has been a strong contributor to Bona's success in 2013, and it is a key component to the longer term growth strategy of the Company. At the end of this year, we will have a total of 21 theaters with 173 screens in operation and seven new theaters under construction. In the first half of 2014, we expect to open four to five additional theaters. We expect this credit facility to support our growth plans in these areas, and we appreciate the support of Shanghai Pudong Development Bank and their confidence in Bona."

Third Quarter 2013 Financial Results

• Third quarter 2013 net revenues were US$35.0 million, compared with US$24.6 million in the third quarter of 2012.
• Non-GAAP net income² was US$3.7 million, or US$0.06 per diluted ADS compared to non-GAAP net income of US$2.4 million, or US$0.04 per diluted ADS, in the third quarter of 2012.

"Overall, I am very pleased with the results that we delivered in the third quarter," said Bona founder, Chairman and CEO Mr. Yu Dong. "We distributed three strong films � Unbeatable, My Lucky Star and Out of Inferno 3D, and continued to generate robust top and bottom line growth. Additionally, we executed on several strategic initiatives that will enable Bona to extend our competitive advantages in film investment and production, expand our theater network and enhance long-term shareholder value. We believe the investment in our Company by Fosun Group at the end of the third quarter sends a strong message to the market that Bona is committed to achieving its goal of becoming China's largest non-state owned film producer, distributor and exhibitor, and we have influential and committed investors and partners willing to support our ambitions."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the fourth quarter of 2013 to be in the range of US$2.0 million to US$2.5million.

"We have made very good progress in 2013, releasing many quality films, growing our theater network, developing a film investment fund to finance the development and production of Bona films and TV projects over the next two years, and diversifying our ownership structure through a meaningful investment by Fosun Group. As we head into the fourth quarter, we have two solid films scheduled for release � Red 2 and The White Storm, and one new theater slated to open. The outlook for 2014 is even better, as we have many strong film titles in our distribution and development pipelines, the financial resources to bring more quality films to market and plans to further expand our theater network. Additionally, we expect our international cooperation initiatives to gain traction, creating further revenue opportunities for us in the future. Bona has built a strong foundation on which to grow and we are excited about the opportunities that lie ahead," concluded Mr. Yu.

BEIJING, Sept. 30, 2013 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that the Company has secured an investment from Fosun Group (Fosun International Limited, 00656.HK, and its subsidiaries) ("Fosun"), a leading, large-scale group with a focus on China's growth momentum in areas such as insurance, industrial operations, property development, investment and asset management.

Under the investment agreement, Fosun will acquire 2,000,000 Bona ordinary shares, representing a 6.4% equity stake in the Company, at an average price of $10.40 per share, or $5.20 per American Depositary Share. Fosun acquired the shares from Matrix Partners China Funds and some of Bona's pre-IPO shareholders. Bona's financial investor Matrix Partners China Funds will have exited its position post this transaction.

"We are very pleased to announce this investment by one of the leading large-scale groups in China," said Mr. Dong Yu. "Fosun has extensive experience and past successes in multiple areas, including property development in many major Chinese cities, and we believe this investment will create meaningful synergies between the two parties."

"Since our IPO in 2010, we have developed our business tremendously and made important progress to diversify our ownership structure by bringing in News Corporation as our strategic investor in May, 2012. This investment from Fosun represents yet another milestone for Bona's ownership structure enhancement. China's movie theater space is amid an exciting and crucial period of growth and we look forward to becoming a leading theater operator in China with the support of our investors and partners," said Mr. Dong Yu.

As a result of this transaction, Mr. Yu's ownership will be reduced to 7,552,506 ordinary shares (not including options to purchase 922,017 ordinary shares), representing approximately 24.1% of the Company's ordinary shares outstanding. The transaction is expected to close in the next 10 days and is subject to customary closing conditions.

Second Quarter 2013 Financial Results

• Second quarter 2013 net revenues were US$28.3 million, compared with US$20.7 million in the second quarter of 2012.
• Second quarter 2013 gross profit was US$15.0 million, compared with US$11.7 million in the second quarter of 2012.
• Second quarter 2013 gross margin was 53.2%, compared with 56.3% in the second quarter of 2012.
• Second quarter 2013 net income attributable to Bona Film Group Limited was US$1.8 million, or US$0.03 per diluted ADS¹, compared with net income attributable to Bona Film Group Limited of US$0.5 million, or US$0.01 per diluted ADS, in the second quarter of 2012.
• Second quarter 2013 non-GAAP net income² was US$2.0 million, or US$0.04 per diluted ADS, compared to non-GAAP net income of US$1.8 million, or US$0.03 per diluted ADS in the second quarter of 2012.

"The second quarter was another strong quarter for Bona, during which we achieved robust top and the bottom line growth with non-GAAP net income nearly 35% above the high-end of our guided range," said Bona founder, Chairman and CEO Mr. Yu Dong. "In the second quarter, we continued advancing our key strategic initiatives of expanding our theater network and driving solid overall box office performance through a diversified and balanced film slate. I am particularly pleased with the performance of our theater business segment, which once again exceeded expectations in the second quarter, delivering year-over-year revenue and segment profit growth of 71% and 74%, respectively. We are confident that we can build upon what we have achieved in the first half and are encouraged by our outlook for the second half of 2013. Our expanding theater network, our strong film production and distribution capabilities, and our diverse, high-quality film pipeline position Bona well for a successful second half of 2013 and for even greater achievement over the longer-term."

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the third quarter of 2013 to be in the range of US$3.0 million to US$3.5 million.

"Looking ahead to the remainder of 2013, we will continue to focus on growing our complementary business segments through the ongoing expansion of our theater network, while we build upon our leading position in China's film distribution market by leveraging our diverse second-half release schedule, which includes several films that we believe have strong box office potential. In addition to our aggressive theater development strategy and compelling second-half release slate, our international expansion initiatives remain on track and are expected to create additional revenue opportunities for the Company. We have built a strong foundation for future growth and remain excited about what the future holds for Bona. We currently anticipate non-GAAP net income of $3.0 million to $3.5 million for the third quarter of 2013," added Mr. Yu.

BEIJING, Aug. 29, 2013 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that it has launched Wuhu Bona Jinyu Film Investment Center (the "Fund"), an RMB 1.0 billion (approximately US$163.4 million) fund that will finance the development and production of Bona's film and TV projects over the next two years.

The fund is established and managed by Wuhu Bona Film Investment Management Limited, a newly formed limited liability company whose shareholders include Bona, Sequoia Capital Investment Advisory (Tianjin) LLC ("Sequoia") and Gopher Asset Management Co., Ltd. ("Gopher"), a division of Noah Holdings Limited (NYSE:NOAH). Bona holds an equity stake in the Fund of approximately 30%, representing the commitment of investment rights in current and future projects, with approximately 70% of the Fund owned by outside investors.

"We are extremely proud to be a part of the Fund, which is the first of its kind in the history of Chinese film and a significant milestone not only for Bona, but for our industry. Investor reaction to this concept during the fundraising process has been extremely positive, and resulted in the Fund not only meeting its target investment level, but a sizable oversubscription. The enthusiasm we have seen from seasoned investment professionals speaks to the value of the Bona name in the industry, as well as the strength of our film pipeline and our position as one of China's leading non state-owned film companies. We believe that there is a significant unmet demand for vehicles such as the Fund, which will allow investors to participate more directly in the growth of China's burgeoning film industry, and we plan to explore opportunities to further develop additional financing entities following the launch of the Fund," said Bona's founder, Chairman and CEO, Mr. Yu Dong. "Chinese cinema is in the midst of a period of tremendous growth, with total box office revenues in the first half of 2013 increasing 35% over the same period of last year. With rapid growth in theaters nationwide as a result of the ongoing urbanization movement and increasing availability of disposable income associated with the rise of China's middle class, we believe that China is poised to build upon its recently attained status as the world's second largest film market in the coming years. This new fund will help Bona further expand its competitive advantages in film investment and production as we continue to strengthen our capabilities in the areas of distribution and exhibition."

Mr. Yu added, "The launch of this Fund is expected to provide substantial benefits for Bona, as it will greatly enhance our production capacity, enabling us to bring not only more, but higher quality film and television projects to audiences in China and abroad. It will significantly reduce the challenges and risks associated with individual project financing, allowing us to more effectively plan the timing of future releases and shorten the pre-production process, while maintaining creative control over our films and TV series and giving us the opportunity to meaningfully increase our production market share. Moreover, the investment and production financing provided by the Fund will enable us to devote our internal capital resources to the Company's other growth engines such as the expansion of our theater network and ongoing enhancement of our film distribution capabilities. We believe that the Chinese film industry is at a critical point in its evolution, and the benefits of participating in the Fund will help bring us closer to our goal of becoming China's largest non state-owned film producer, distributor and exhibitor while leading the continued advancement of the industry and creating incremental shareholder value."

Projects financed by the Fund are expected to include theatrical releases and television series, and will include both Bona-produced films as well as films developed through co-production agreements such as those previously announced with Fox International Productions, Universal Pictures and Working Title Films. Where applicable, Bona will distribute all films in which the Fund invests, domestically and internationally. Proceeds from the Fund will be distributed to investors based on their initial investment in the Fund, as well as the Fund's internal rate of return.

The Fund expects to provide financing for such highly anticipated films as Tracks in the Snowy Forest, The Third Master's Sword and Moscow Mission, the first project under Bona's previously announced co-production agreement with Fox International Productions.

First Quarter 2013 Financial Results

• Net revenues were US$43.3 million, compared with US$43.7 million in the first quarter of 2012.
• Gross profit was US$14.8 million, compared with US$20.8 million in the first quarter of 2012.
• Gross margin was 34.1%, compared with 47.6% in the first quarter of 2012.
• Net income attributable to Bona Film Group Limited was US$0.5 million, or US$0.01 per diluted ADS¹, compared with net income attributable to Bona Film Group Limited of US$2.3 million, or US$0.04 per diluted ADS, in the first quarter of 2012.
• Non-GAAP net income² was US$1.2 million, or US$0.03 per diluted ADS, compared to non-GAAP net income of US$3.3 million, or US$0.05 per diluted ADS in the first quarter of 2013

"I am pleased with our financial and operational performance in the first quarter, which has set the stage for what I believe will be an exciting and successful year for Bona as we build upon some of the development milestones reached in 2012," said Bona founder, Chairman and CEO Mr. Yu Dong. "Non-GAAP net income came within our guided range, with each of our three first quarter films generating box office receipts that were in-line with or above our expectations. I am particularly excited about the performance of our theater segment, which achieved 77% revenue growth and an 81% increase in segment profit over the first quarter of last year. This strong growth was largely attributable to the expansion of our theater network from 12 at the end of first quarter of 2012 to 20 on March 31, 2013. With six to eight new theaters planned to open during the remainder of the year and a slate of diverse, high-quality films that we believe have strong commercial appeal among a range of audience demographics, I am confident that Bona can deliver record financial performance in 2013.

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the second quarter of 2013 to be in the range of US$1.0 million to US$1.5 million.

"Looking ahead, we plan to continue construction of two new theaters in the second quarter of 2013, while further developing and improving performance at our existing locations. We are advancing our distribution and investment & production capabilities through collaborative partnerships with industry leaders such as Fox International Productions, Universal Pictures and Working Title Films, through which we are not only expanding our pipeline, but also learning from these cornerstones of the entertainment industry. In addition to these efforts, we are expanding the range of our content offerings including TV, where we have a pipeline of three series that we expect will begin production later this year, totaling approximately 120 planned episodes. Our outlook for the rest of the year remains strong. For the second quarter, ending June 30, we currently anticipate non-GAAP net income of US$1.0 million to US$1.5 million, with financial performance expected to progressively improve over the next several quarters," added Mr. Yu.

BEIJING, Aug. 27, 2012 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that its Founder, Chairman and CEO Mr. Yu Dong will purchase up to US$1.0 million in Bona's American depositary shares (ADSs) on the open market before September 30, 2012.

"Our core business fundamentals remain strong and we continue to execute on our strategic expansion and diversification initiatives. My decision to purchase additional ADSs of the Company reflects my confidence in our Company and our growth prospects," said Mr. Yu Dong.

Bona Reports Second Quarter 2012 Financial Results

• Quarterly Net Revenue of US$20.7 Million, Up 23.9% Year-Over-Year
• Quarterly Net Income of US$0.5 Million, Compared With a Loss in the Comparable 2011 Period
• Non-GAAP Net Income of US$1.8 Million, Up 12.7% Year-Over-Year, Exceeding Guidance

BEIJING, Aug. 23, 2012 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced its unaudited financial results for the second quarter ended June 30, 2012.

Second Quarter 2012 Financial Highlights

• Second quarter 2012 net revenues were US$20.7 million, an increase of 23.9% year-over-year from US$16.7 million in the second quarter of 2011.
  
• Second quarter 2012 gross profit was US$11.7 million, an increase of 48.7% year-over-year from US$7.9 million in the second quarter of 2011.
• Second quarter 2012 gross margin was 56.3%, compared to 46.9% in the second quarter of 2011.
• Second quarter 2012 net income attributable to Bona Film Group Limited was US$0.5 million, or US$0.01 per diluted ADS1, compared with a net loss attributable to Bona Film Group Limited of US$(0.9) million, or US$(0.02) per diluted ADS, in the second quarter of 2011.
• Second quarter 2012 non-GAAP net income2 was US$1.8 million, or US$0.03 per diluted ADS, an increase of 12.7% year-over-year, compared to non-GAAP net income of US$1.6 million, or US$0.03 per diluted ADS in the second quarter of 2011.
• Cash and cash equivalents, term deposits and restricted cash totaling US$29.1 million as of June 30, 2012.
• Cash outflow from operations totaled US$17.0 million, compared with US$6.4 million in the second quarter of 2011.

Business Updates and Recent Highlights

• Secured strategic investment from News Corporation following global media conglomerate's purchase of 19.9% equity stake from founder, Chairman and CEO, Mr. Yu Dong.
• Signed agreement with IMAX to bring first IMAX® theater to Tianjin.
• Distributed three films in the second quarter, including one imported film.
• Opened 14th movie theater in Dongguan, Guangdong Province, on June 20, 2012, increasing the Company's total number of screens to over 113 across the Company's 14 theaters.
• Won a record 10 awards at the 31st Hong Kong Film Awards, including Bona's third consecutive Best Picture award for critically acclaimed drama A Simple Life.

"We are pleased to report another quarter of double-digit year-over-year growth across all of our key operating metrics, with non-GAAP net income exceeding our projected range. During the second quarter, we furthered our strategy to diversify our revenue stream, growing revenues from our theater business by 100% year-over-year and 23.0% sequentially. By reducing the revenue concentration in our film distribution segment, we have made our business less susceptible to the timing of blockbuster releases," said Bona Founder, Chairman and CEO Yu Dong. "Our focus is to continue to cultivate our leading position as a film distributor while aggressively growing our complementary business segments. This balanced approach, coupled with a strong second-half release schedule that includes our highly anticipated film, The Last Tycoon, has us firmly on track to meet our full-year objectives.

Moreover, we are positioning the Company for even greater long-term success through expanded digital distribution of and the development of TV series based on films such as Flying Swords of Dragon Gate and Bodyguards and Assassins. Our television series, The King's Battles completed shooting in the second quarter and is on track to premiere in December, and we are confident that we can replicate the success of our film productions on the small screen.

"In addition to our operational accomplishments, News Corporation's strategic investment in our Company diversifies our ownership base and could help accelerate our longer-term global growth initiatives. We are uniquely positioned as one of China's leading private film companies with broad reach across the country's film industry value chain. The high quality international productions we bring to Chinese moviegoers and broad commercial appeal of our films to audiences throughout the world strengthen our brand equity as we continue to expand our vertically integrated business and work to achieve Bona's objectives, bringing the Company to the next level of success."

BEIJING & LOS ANGELES--(BUSINESS WIRE)--RealD Inc. (NYSE: RLD), a leading global licensor of 3D technologies, and Bona Film Group Limited (NASDAQ: BONA), a leading film distributor in China, announced today an agreement to install RealD 3D technology on one hundred cinema screens across the Bona theatre circuit in China. Installations have already begun with Bona planning to install RealD 3D technology at each of the company’s eleven theatre locations.

3D technology gives moviegoers a more immersive visual experience, which takes the movie business to a new level,” said Dong Yu, Chairman and CEO of Bona Film Group. “Bona strives for the highest industry standard, both in movie production and exhibition, which is why we selected RealD to equip all of our locations with the latest 3D technology. With RealD, our theatres will deliver a crisper image, fully utilizing the advantages of 3D technology to bring audiences an experience that is more real.”

“We share Bona’s commitment to using state-of-the-art technology to deliver a brighter and more lifelike cinema experience to moviegoers,” said Edman Chan, RealD General Manager of Greater China, Southeast Asia and Korea for Cinema. “RealD technology delivers 3D brightness that surpasses other 3D technologies and big screen brands. This advantage gives audiences a better entertainment experience and is a key reason for RealD’s expanding theatre network in China.”

RealD 3D is currently available on approximately 650 cinema screens in China with screen commitments totaling approximately 1,400 screens in the territory.

Globally, RealD is the world’s most widely used 3D cinema technology with approximately 20,200 screens equipped with RealD 3D (as of March 23, 2012) by approximately 900 exhibitors in 68 countries around the world.

BEIJING, May 13, 2012 (GLOBE NEWSWIRE) -- Bona Film Group Limited (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that the Company has secured a strategic investment from News Corporation.

Under the investment agreement, News Corporation will acquire a 19.9% equity stake in Bona directly from the Company's Founder, Chairman and CEO, Mr. Dong Yu.

Mr. Yu has entered into separate agreements to acquire 1,000,000 Bona ordinary shares from SIG China Investments One, Ltd., 1,000,000 Bona ordinary shares from Matrix Partners China Funds and 1,500,000 Bona ordinary shares from the Sequoia Funds, at an average price of $11.40 per share, or $5.70 per American Depositary Share.

"We are thrilled to receive this strategic investment from News Corporation," said Dong Yu, Founder, Chairman and CEO of Bona Film Group Limited. "As one of the leading film distributors in China, we are committed to bringing the best quality Chinese films to broad audiences around the world. News Corporation's extensive global reach, investment and distribution will help accelerate our strategy to expand our global footprint.

"Since our IPO in 2010, we have developed our business significantly and we believe now is the time to diversify our ownership structure by introducing select strategic investors. This is an exciting period of growth for China's film industry, and we look forward to exploring the international commercial opportunities for Chinese films with our new partner," Mr. Yu concluded.

"One of Bona's unique advantages is its vertically-integrated business model, which differentiates the Company from other film distributors in China," said Dr. Jack Gao, SVP, News Corporation & CEO, News Corporation China Investments. "China's film market is growing at a rapid pace, positioning the country to be the second largest film market following the United States, and Bona's market leadership, compelling value proposition and tremendous growth potential make this an attractive opportunity for News Corporation."

Following the close of these transactions, Mr. Yu's ownership will be reduced to 8,210,803 ordinary shares (not including options to purchase 545,615 ordinary shares), representing approximately 27.0% of the Company's ordinary shares outstanding. These transactions are expected to close in the next 15 days and are subject to customary closing conditions.

First Quarter 2012 Results

• First quarter 2012 net revenues were US$43.7 million, an increase of 126.8% year-over-year from US$19.3 million in the first quarter of 2011.
• First quarter 2012 gross profit was US$20.8 million, an increase of 122.0% year-over-year from US$9.4 million in the first quarter of 2011.
• As a percentage of net revenues, first quarter 2012 gross margin was 47.6%, compared to 48.6% in the first quarter of 2011.
• First quarter 2012 net income attributable to Bona Film Group Limited was US$2.3 million, or US$0.04 per diluted ADS¹, compared with US$2.2 million, or US$0.04 per diluted ADS in the first quarter of 2011.
• First quarter 2012 non-GAAP net income² was US$3.3 million, or US$0.05 per diluted ADS, an increase of 35.3% year-over-year, compared to US$2.4 million, or US$0.04 per diluted ADS in the first quarter of 2011.

"We are pleased to report another solid quarter, with strong growth across key operating metrics. Particularly notable was our record top-line performance, which increased 126.8% over the first quarter of last year and was equal to 34.6% of our revenue for all of 2011," said Bona Founder, Chairman and CEO Yu Dong. "As an established leader in China's film distribution market, our industry experience and expertise have afforded us a clear understanding of audience preferences and the ability to anticipate changing trends in consumers' entertainment habits. This unique level of insight has supported the development of our emerging film investment and production segment.

"During the quarter, we distributed five films, including four new films and the 2011 year-end blockbuster The Flying Swords of Dragon Gate. The five films, including first quarter bookings from The Flying Swords of Dragon Gate, generated gross box office receipts of over RMB450 million, the highest total among all non-state-owned film distributors in China. Our core distribution business continued to perform well, and we achieved significant revenue from both Internet copyright and international sales reached record levels for Bona. We have also generated significant pre-release advances from our TV series products," Mr. Yu continued. "In addition to our accomplishments at the box office, our films A Simple Life and The Flying Swords of Dragon Gate were the two biggest winners at the prestigious Hong Kong Film Awards, representing the quality of our releases and commitment to artistic contributions in addition to commercial success. With the growth of China's film industry expected to accelerate, we believe we are well positioned to leverage our strong brand name, as well as our core strengths in distribution, production, exhibition and innovation to drive continued success, both domestically and internationally.

"On behalf of the Board, I would like to congratulate Amy on her appointment as CFO. We are very pleased to be able to add such a talented and experienced professional as Amy to the Bona's management team. Her broad background in finance, capital market and operations together with her global business experience makes her an ideal addition to our Company as we continue to enhance our leadership team with top professionals. We thank Mason for everything he has done to create the solid financial foundation that Amy will build upon and welcome Amy to our team," stated Mr. Yu.

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the second quarter of 2012 to be in the range of US$1.5 million to US$1.7 million, and maintains its full year 2012 non-GAAP net income guidance of approximately US$22.0 million. Full year 2012 non-GAAP net income guidance assumes an effective tax rate of 20.0% for the year, as well as high upfront costs associated with the opening of 10 to 12 greenfield cinemas in 2012.

Mr. Yu concluded, "We have already achieved a great deal in 2012 to date and see the potential for even greater success ahead. We have a solid production pipeline of traditional, IMAX and 3D content featuring internationally known talents and plan to expand our slate of imported films following the box office success of Source Code last year. The Chinese film industry is growing at an incredible pace, which is only expected to increase in the future. With our strong domestic brand, relationships with global entertainment leaders and sound growth strategy that leverages our capabilities in production, distribution, exhibition and innovation, we are poised to build upon our solid foundation and lead the advancement of Chinese cinema worldwide."

BEIJING, April 2, 2012 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, today announced that Yu Dong, its Founder, Chairman and CEO, entered into a purchase agreement with Sequoia Funds to acquire 1.5 million ordinary shares, (equivalent to 3,000,000 ADSs), of the private equity group's holdings in the Company on March 30, 2012. Mr. Yu has agreed to pay $11 per share, (equivalent to $5.50 per ADS), a premium of approximately 5.6% over the closing price of Bona ADSs on March 30, 2012.

"Bona is coming off of an extremely strong 2011 in which we more than doubled revenue and grew non-GAAP net income nearly 70%. We have a clear growth strategy on which we are executing, and are poised to deliver continued strong growth in 2012 as China's film industry continues to develop. My personal purchase of these shares reflects my confidence in the soundness of our business fundamentals and my excitement about the opportunities that lie ahead. In addition, I believe this purchase indicates my belief in the potential of our Company, my commitment to its success and to increasing shareholder value," stated Mr. Yu. 

Following the close of this transaction, Mr. Yu will own a total of 12,764,818 ordinary shares, representing a 42.0% holding in the Company, and Sequoia Funds will own 1,646,362 ordinary shares, or 5.42% of the shares outstanding. The sale and purchase is expected to close no later than April 30, 2012 and is subject to customary closing conditions.

Sequoia Funds refers to Sequoia Capital China I L.P., Sequoia Capital China Partners Fund I L.P., Sequoia Capital China Principals Fund I L.P. and their affiliates.

BEIJING, March 1, 2012 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor in China, announced today that its chief financial officer, Mr. Mason Xu, has tendered his resignation as CFO of the Company to become chief executive officer of a China-based, U.S.-dollar private equity fund. Mr. Xu will remain as CFO with Bona through the completion of the Company's annual full-year audit and sign the Company's Annual Report on Form 20-F, which is expected to be filed with the U.S. Securities and Exchange Commission by April 30, 2012. Following his resignation, Mr. Xu will serve in an advisory capacity on the Company's "Strategy Committee" to ensure a smooth CFO transition while providing additional insight in support of Bona's strategic expansion.

Bona has formed a CFO search committee consisting of Mr. Dong Yu, Bona's founder, chairman and chief executive officer, along with two of the Company's independent directors, Dr. Daqing Qi and Mr. Jie Lian. The committee has identified a number of CFO candidates and expects to submit a final recommendation to the Company's board of directors within the next month.

"We appreciate Mason's efforts in establishing a strong and professional finance team, as well as in leading our overall financial management and internal control activities both before and after our initial public offering," said Mr. Yu. "This is a terrific opportunity for him and although he will be missed in the financial department, we are sure the fiscal discipline he helped to instill within the company will continue to benefit Bona as we build on the impressive growth of China's film entertainment industry."

"This change is bittersweet for me," said Mr. Xu. "However, I am tremendously proud to have been a part of Bona's rise, and I know the Company is well positioned for continued success. With its exciting and award-winning films, Bona has captured the hearts of moviegoers across China over the last few years and I look forward to contributing to its future success in an advisory capacity."

Bona's "Strategy Committee" is a newly-formed, board-level committee that will assist in the formulation and execution of Bona's mid- to long-term strategy. The committee will consist of Mr. Yu and two of Bona's board directors, Ms. Nansun Shi, and Mr. Peixin Xu, all of whom have extensive operational experience and strategic connections across domestic and international film and television circles.

http://www.globenewswire.com/newsroom/news.html?ref=rss&d=247860Fourth Quarter 2011 Financial Highlights

• Fourth quarter 2011 net revenues were US$52.6 million, an increase of 195.2% year over year from US$17.8 million in the fourth quarter 2010
• Fourth quarter 2011 gross margin was 39.7%, compared to 48.4% in the fourth quarter 2010
• Fourth quarter 2011 operating income was US$3.4 million, an increase of 5.5% year over year from US$3.2 million in the fourth quarter 2010
• Fourth quarter 2011 net income was US$5.7 million, an increase of 81.7% year over year compared to US$3.1 million in the fourth quarter 2010
• Fourth quarter 2011 non-GAAP net income¹ was US$6.2 million, an increase of 82.9% year over year compared to US$3.4 million in the fourth quarter 2010

"We finished the year on a strong note as we exceeded our 2011 bottom-line guidance, reporting a 69% year-over-year increase in our non-GAAP net income," said Bona Founder, Chairman and CEO Yu Dong. "Our highly successful blockbuster Flying Swords of Dragon Gate achieved domestic box office receipts of over RMB550 million to become the fourth most successful domestic film in the history of Chinese film. For the full year 2011, we distributed or invested in 15 films in total and attained the second largest share of the distribution market, based on domestic box office receipts. Additionally, we are happy with the progress of our movie theater expansion to date, as we strive toward our goal of operating 30 to 40 new theaters in prime locations across China by 2014. By the end of 2012, our target is to have 21 to 23 operational movie theaters. Our strategic network of movie theaters complements our distribution-centric business model and helps us differentiate ourselves from the competition."

Mr. Yu continued, "China's total box office grew a remarkable 30% in 2011, with a record RMB13 billion in total receipts for the year. Movie screens also continue to grow at an unprecedented rate, rising from 6,200 at the beginning of the year to over 9,100 by December 2011. Looking forward, we will continue to leverage our vertically integrated business model to capitalize on the numerous opportunities arising from China's rapidly growing film industry."

Business Outlook

Based on current market and operating conditions, the Company estimates non-GAAP net income for the first quarter 2012 to be in the range of US$2.8 million to US$3.2 million, and non-GAAP net income for the full year 2012 to be approximately US$22.0 million.

Full year 2011 non-GAAP net income guidance assumes an increase in the Company's effective tax rate from 3.1% in 2011 to approximately 20.0% in 2012. In addition, the Company's full year guidance considers the high upfront costs associated with 10 to 12 green field cinemas commencing operation in 2012.

Third Quarter 2011 Results

• Third quarter 2011 net revenue was US$37.5 million, an increase of 83.1% year-over-year from US$20.5 million in the corresponding period of 2010
• Third quarter 2011 gross margin was 57.5%, compared to 52.2% in the corresponding period of 2010
• Third quarter 2011 operating income was US$8.2 million, an increase of 50.0% from US$5.5 million in the corresponding period of 2010
• Third quarter 2011 net income was US$7.5 million, an increase of 52.9% from US$4.9 million in the corresponding period of 2010
• Third quarter 2011 non-GAAP net income was US$8.1 million, an increase of 26.7% from US$6.4 million in the corresponding period of 2010

"We experienced strong revenue and gross profit growth in the third quarter driven primarily by the success of newly released films and a solid contribution from our movie theater business," said Bona Founder, Chairman and Chief Executive Officer Yu Dong. "Our vertically-integrated business model with a focus on distribution has given us a healthy mix of revenue from film distribution, investment, production and exhibition. In the third quarter, our film Overheard II exceeded our box office expectations and is the second most successful domestic film so far this year based on box office receipts. We are pleased with the development of our movie theater business as we signed six new cinema projects in the third quarter. Currently, we have a total of 12 cinemas under construction and are on track to meet our expansion goal of operating 30 to 40 new theaters in prime locations across China by 2014."

Mr. Yu added, "Although still a small portion of our total revenues, we are witnessing encouraging demand trends in the areas of Internet and digital distribution and TV serials. Looking at our future distribution slate, we plan to release our highly-anticipated domestic blockbuster Flying Swords of Dragon Gate, starring Jet Li, in December, which we believe will be a strong revenue driver for our business."

Business Outlook

Based on current market and operating conditions, the Company estimates non-GAAP net income for the fourth quarter 2011 to be in the range of US$5.8 million to US$6.2 million, and non-GAAP net income for the full year 2011 to be approximately US$18.0 million after consolidating the results of operation of Bona Starlight since July 2011.

LOS ANGELES, Oct. 31, 2011 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor in China, announced that the Company and Huayi Brothers Media Corporation ("Huayi") will acquire strategic stakes in one-year-old China Lion Film Distribution ("China Lion"). The formal announcement was made at a gala celebration in Los Angeles on October 30.

Yu Dong, chairman and CEO of Bona, Zhonglei (James) Wang, president of Huayi, Jiang Yanming, president of China Lion, Milt Barlow, CEO of China Lion, Greg Coote, newly appointed chairman of China Lion, and Gang Tong, director of China's Film Bureau of the State Administration of Radio, Film and Television ("SARFT"), attended the event.

Second Quarter 2011 Financial Highlights

• Second quarter 2011 net revenue was US$16.7 million, an increase of 150.1% year-over-year from US$6.7 million in the corresponding period of 2010
• Second quarter 2011 gross margin was 46.9%, compared to 48.8% in the corresponding period of 2010
• Second quarter 2011 operating loss was US$1.6 million, compared to an operating loss of US$1.0 million in the corresponding period of 2010
• Second quarter 2011 net loss was US$0.9 million, compared to a net loss of US$8.2 million in the corresponding period of 2010
• Second quarter 2011 non-GAAP net income was US$1.6 million, an increase of US$2.0 million year-over-year compared to a non-GAAP net loss of US$0.4 million in the corresponding period of 2010

"We continue to execute on our strategies by capitalizing on our distribution-centric and vertically-integrated business model as we position ourselves for a strong second half this year," said Bona Founder, Chairman and Chief Executive Officer Yu Dong. "China's film industry is experiencing excellent growth and the thrill of the movie-going experience is becoming increasingly popular among Chinese households. Recently, we announced the acquisition of our affiliated company Bona Starlight, which focuses on the operation of movie cinemas in China. The addition of Bona Starlight will strengthen our movie theater network, which has proven to be a stable source of revenue for us, while also taking our distribution network to the next level of sophistication."

Mr. Yu added, "We are on track to distribute between 16 and 20 films in 2011 as our film distribution schedule ramps up in the second half of 2011. We also see encouraging revenue trends like the growth of copyright sales from online video sites and revenue contribution from imported film distribution and investment in TV serials. "

BEIJING, July 5, 2011 (GLOBE NEWSWIRE) -- Bona Film Group Limited ("Bona" or the "Company") (Nasdaq:BONA), a leading film distributor in China, today announced that it has acquired 100% of the equity interest in Beijing Bona Starlight Cineplex Management Co., Ltd. ("Bona Starlight"), an affiliated company of Bona Film Group that focuses primarily on the operation of movie cinemas in China. The transaction will strengthen the Company's film distribution network and expand Bona's movie theater business. Total consideration for the agreement is RMB 200 million, or approximately US$30.9 million.

"We believe building a strong movie theater network will take our distribution strategy to the next level of sophistication," said Mr. Dong Yu, Bona's founder, chairman and chief executive officer. "Bona Starlight will expand our movie theater segment and increase our on-site presence in top box office grossing cities, which will in turn benefit our film distribution business. We believe our cinema managers will also function as local distribution managers, monitoring the distribution process to make sure Bona films are distributed smoothly, trailers are exhibited properly and advertisement backdrops are displayed strategically."

Mr. Yu continued, "A film distributor with a meaningful number of cinemas will differentiate Bona from other film distributors, giving us a competitive advantage as we continue to grow prudently in the quarters ahead. We believe the integration will be smooth as Bona Starlight has the same business model as the listed-company and its management team has previous experience managing Bona's cinemas before they were acquired by Bona. Bona's movie theater segment has established a track record for strong and stable revenue contribution, which also provides a healthy cash flow for the Company. Going forward, Bona will continue to execute our cinema-supported distribution strategy by further acquiring cinemas from unrelated third parties."

Bona Starlight currently has four fully operational cinemas, two in Beijing, one in Chongqing and one in Tianjin. In addition, Bona Starlight has seven cinemas at various stages of construction across China, which are all expected to be operational by the end of this year. Bona Starlight's operations will augment Bona's current movie theater business, which was acquired in April 2010. At the end of the first quarter 2011, Bona's movie theater business consisted of six theaters across China.

First Quarter Results:

• First quarter 2011 net revenues were US$19.3 million, an increase of 146.7% year-over-year from US$7.8 million in the first quarter 2010
• First quarter 2011 gross margin was 48.6%, compared to 47.7% in the first quarter 2010
• First quarter 2011 operating income was US$2.7 million, an increase of 82.5% year-over-year from US$1.5 million in the first quarter 2010
• First quarter 2011 net income was US$2.3 million, an increase of US$6.4 million, compared to a net loss of US$4.1 million in the first quarter 2010
• First quarter 2011 non-GAAP net income was US$2.4 million, an increase of 76.7% year-over-year compared to US$1.4 million in the first quarter 2010

"We exceeded our guidance in the first quarter as we continued to leverage our vertically integrated film distribution business model to execute on our growth strategies," said Bona Founder, Chairman and CEO Yu Dong. "In the first quarter, we completed principal photography on three film projects and distributed four films, in-line with our goal of distributing 16 to 20 new and high-quality films by the end of the year. One of the advantages of our vertically integrated business is that we are able to generate revenues from a variety of different channels for any given film project. For example, in the first quarter, in-film product placement and film advertising played an important role in supplementing our film distribution revenues. Moreover, we are capitalizing on channels like Internet and digital distribution, and international distribution to increase our revenues and manage the risks of investments in film projects. Similarly, our movie theater business segment is experiencing stable growth and we are currently in discussion with potential acquisition targets to expand this segment and provide a strong network to complement our film distribution."

Based on current market and operating conditions, the Company expects non-GAAP net income for the second quarter of 2011 to be in the range of US$1.3 million to US$1.5 million, and non-GAAP net income for the full year 2011 to be approximately US$20 million.

Fourth Quarter Highlights:

• Fourth quarter 2010 net revenues were US$17.8 million, a decrease of 22.2% year-over-year from US$22.9 million in the fourth quarter 2009
• Fourth quarter 2010 gross margin was 48.4%, compared to 47.5% in the fourth quarter 2009
• Fourth quarter 2010 operating income was US$3.2 million, a decrease of 33.3% year-over-year from US$4.8 million in the fourth quarter 2009
• Fourth quarter 2010 net income was US$3.1 million, a decrease of 21.5% year-over-year compared to US$4.0 million in the fourth quarter 2009
• Fourth quarter 2010 non-GAAP net income was US$3.4 million, a decrease of 22.2% year-over-year compared to US$4.3 million in the fourth quarter 2009
• EPS Non-GAAP per ADS of $0.06 compared to $0.11 the prior year.

"Our vertically integrated business model with a focus on film distribution positions us favorably to capitalize on the rapidly growing China movie box office," said Bona Founder, Chairman and CEO Yu Dong. "Following a solid year in 2009, we were able to grow our full year 2010 net revenues approximately 38 percent year-over-year and achieved a healthy full year 2010 gross margin of almost 50 percent. We foresee exciting opportunities in 2011, as we target to expand the number of high-quality film projects we invest in, produce and distribute."

Based on current market and operating conditions, the Company expects

• non-GAAP net income for the first quarter 2011 to be in the estimated range of US$1.8 million to US$2.2 million, and non-GAAP net income for the full year 2011 to be approximately US$20 million.

Bona Film Group plans for Initial Public Offering

Company Snapshot:

The largest privately owned film distributor in China

Industry Snapshot:

• The PRC film industry has been experiencing strong and consistent growth for the past few years. According to EntGroup, total box office for urban Chinese movie theaters grew at a CAGR of 32.0% from 2005 to 2009, compared to a CAGR of 4.7% for the United States and 6.7% for the entire world over the same period. In absolute terms, total box office for urban Chinese movie theaters has grown from RMB2.1 billion in 2005 (US$313.9 million) to RMB6.2 billion (US$926.7 million) in 2009 and is projected by EntGroup to reach RMB21.0 billion (US$3.1 billion) by 2012, representing a three-year CAGR of 50.2%. This growth has been driven primarily by strong increases in viewership, which in turn has been fueled by the increase in the number of modern movie theaters and the improvement in film quality and variety in China. Total admission for urban Chinese movie theaters has increased from 73 million in 2005 to 200 million in 2009, while the average ticket price increased moderately from RMB30.0 (US$4.5) in 2005 to RMB31.0 (US$4.6) in 2009, according to EntGroup.

• State-owned enterprises have historically dominated and have in recent years continued to play a prominent role in the PRC film industry. The top three state-owned film distributors, China Film Group Corporation, Huaxia Film Distribution Co., Ltd. and Shanghai Film Group, together accounted for between 36.3% and 43.7% of the total box office for domestic films between 2007 and 2009, according to EntGroup. Moreover, two state-owned film distributors have the exclusive right to distribute the limited number of foreign films, mainly Hollywood blockbusters, that may be exhibited in China on a box office sharing basis. Privately owned film distributors have increasingly captured a sizeable share of the market for distribution of domestic films. Our company and Huayi Brothers are the top two privately owned film distributors; our company accounted for 16.5%, 17.1% and 17.3% of the total domestic films' box office in 2007, 2008 and 2009, and Huayi Brothers accounted for 6.4%, 19.4% and 13.2% during those same years, according to EntGroup. State-owned enterprises may consider non-commercial interests in operating their business and may from time to time support the production and distribution of films that promote themes and initiatives supported by the PRC government. Privately owned companies, such as our company, generally have greater flexibility in operating their business on a commercial basis, including in selecting the films they produce or distribute

Use Of proceeds:

• possible acquisitions, including of movie theaters to further build up and strengthen our national film exhibition network;

• acquisition of film distribution rights including investment in film productions to secure film distribution rights;

• general corporate purposes, including funding possible acquisitions of complementary businesses, although we are not currently negotiating any such acquisitions. See "Use of Proceeds" for additional information

Underwriters:

• BofA Merrill Lynch
• J.P. Morgan
• CICC
• Piper Jaffray
• Cowen and Company

Proposed offering price: $7.00 to $9.00

Post IPO Share Calculation: (Using the assumption that Each two ADSs represent one ordinary share).

• 11,739,740: Pre IPO fully diluted share count used in EPS calculation.
• 11,740,000: Newly issued ADS shares 
•   1,761,000: Underwriter over-allotments ADS shares 

GeoTeam® best effort calculation of total post IPO ADS count to be used in EPS calculations, assuming full conversions and that each two ADSs represent one ordinary share. :   21,298,572

Financial Snapshot: December Year End;  

2009 vs 2008

• Revenues: $38.4 million vs. $23.4 million
• Non-GAAP: Net Income: $5.4 vs. $2.7 million

Nine Months 2010 vs. 2009

• Revenues: $35.0 million vs. $15.5 million
• Non-GAAP Net Income: $7.4 million vs. $1.1 million

Pro Forma Valuation: using mid point offering price and new share count

• Trailing EPS (ADS): $0.54
• Trailing P/E: 14.6